Industrial Production Falls 1.4%

U.S. industrial production fell 1.4% in February, declining for the fourth consecutive month, the Federal Reserve said Monday.

The decline in production at factories, mines and utilities followed a revised 1.9% downturn in January that was more originally reported.

The financial crisis has cut off credit to consumers and businesses alike, causing slump in sales of cars, houses, airplanes and computers, among other products.

Economists had forecast industrial production would fall 1.3% Bloomberg reported.

The share of industrial capacity in use fell to 71%, the a tie with December 1982 as the lowest reading since records began in 1967.

The factory sector is one of trucking’s largest and most important customers.